Jakarta, ThedailyID — Indonesia’s Ministry of Finance will not become a shareholder in the Indonesia Stock Exchange (IDX) as part of the exchange’s ongoing demutualization process.
Finance Minister Suahasil Nazara said the decision aims to maintain a clear separation between regulators and market operators. He explained that the ministry serves as a policymaker, while the IDX operates as a commercial entity.
“I want to emphasize that the Ministry of Finance will not become an owner of IDX shares. Why? Because the Ministry of Finance is a policymaker. We make policies, while IDX operates in the operator or commercial sphere,” Suahasil said at a press conference following the fourth 2026 Financial System Stability Committee (KSSK) regular meeting in Central Jakarta on Tuesday, November 3.
Although the ministry will not acquire an ownership stake, Suahasil assured that it would continue supporting capital market reforms led by the Financial Services Authority (OJK) and the IDX.
He also said the ministry would maintain close coordination with both institutions to monitor progress on their respective reform initiatives.
“The Ministry of Finance will continue to support capital market reforms carried out by OJK and IDX,” Suahasil said.
Under Article 8 of OJK Regulation No. 13 of 2026 concerning Stock Exchange Shareholders, the Ministry of Finance, Bank Indonesia (BI), and the Investment Management Agency Daya Anagata Nusantara (Danantara) are permitted to hold IDX shares.
However, the regulation requires these institutions to preserve the exchange’s independence. It also allows them to appoint representatives as shareholders in accordance with applicable laws.
Unlike the Finance Ministry, Danantara is preparing to acquire a stake in the IDX. Its entry is projected to take place before the exchange proceeds with an initial public offering (IPO).
IDX shareholders previously approved the demutualization process at an Extraordinary General Meeting of Shareholders on Wednesday, October 28.
IDX President Director Jeffrey Hendrik said due diligence for prospective investors, including Danantara, is currently underway.
He added that the entry of external investors would most likely begin through the issuance of new shares, or a rights issue.
